According to the law of supply, what typically happens when the price of a good increases?

When the price of a good increases, suppliers are generally motivated to produce and offer more of that good in the market. This behavior is driven by the potential for higher revenue and profit, as higher prices make it more attractive for producers to allocate resources toward the production of that good. This relationship is a fundamental aspect of the law of supply, which states that there is a direct correlation between the price of a good and the quantity of that good that suppliers are willing to produce. An increase in price signifies that the market is willing to pay more, incentivizing suppliers to enhance their output to meet the higher demand and maximize their profits.

The other options do not align with the principles of the law of supply. For instance, rising prices do not lead to a decrease in supply or a decrease in demand; rather, they are likely to elicit an increase in supply. Additionally, while demand could potentially change with price fluctuations, the specific focus of the law of supply is on the behavior of suppliers in response to price changes.